SUMMARY
- The Hosteller raised ₹48 Cr from V3 Ventures and others, with ₹16 Cr as debt from Blacksoil.
- Funds will increase hostel beds from 2.5k to 10k across India within 15–18 months.
- Founded in 2015, the firm reported FY 2022-23 revenue of ₹22.62 Cr with a ₹3.4 Cr loss.
The Hosteller, a travel-tech business, has reportedly secured a funding of ₹48 crore (about $5.7 Million) in a funding round led by current investor V3 Ventures, through a combination of debt and equity infusion. The firm intends to expand with the new funding. The transaction involves a debt of ₹16 crore from Blacksoil, according to ET.
In addition, investors such as Ice Venture Capital, Synergy Capital Partners, Unit-e Consulting, and Real Time Angel Fund participated in the round, as did angel investors Vedang Patel, founder of The Souled Store, and Harsh Shah, vice president of Shree Naman Group.
Reportedly Dangi stated, “We have just raised a round of funds which will be utilised to go from 2,500 beds that we are on today to taking the count to 10,000 beds in the next 15 to 18 months.”
The Hosteller, which was founded in 2015 by Dangi and Sumit Mishra, provides travelers with a range of accessible and reasonably priced backpacker hostels in various areas throughout India.
The Travel-tech company headquartered in Mumbai has raised a total funding of ₹44.84 crore over five rounds to date. For the fiscal year 2022-23, the business reported a revenue of ₹22.62 crore, with a net loss of ₹3.4 crore.
